Premier Air Charter Holdings Reports 38% Revenue Growth but Increased Net Loss in Q2 2025

Premier Air Charter Holdings Inc. (formerly Altair International Corp.) reported its financial results for the second quarter of 2025, revealing a revenue increase of 38% to $7.4 million compared to $5.4 million in the same period last year. For the first half of 2025, total revenue reached $13.3 million, up from $11.3 million in the first half of 2024. Despite this growth, the company experienced a net loss of $999,945 for the quarter, compared to a loss of $497,539 in the prior year. The six-month net loss also widened to $2.2 million from $444,617, primarily due to increased operational costs associated with newly acquired aircraft and higher salaries.

The company's cost of sales surged to $7.2 million in the second quarter, up from $4.8 million a year earlier, driven by pre-charter operating costs of acquired aircraft and rising fuel expenses. Operating expenses also increased, totaling $1.05 million for the quarter, reflecting higher consulting fees and salaries related to the merger with Premier Air Charter, Inc. The overall loss from operations for the quarter was $823,662, significantly higher than the $294,238 loss reported in the same quarter of 2024.

Strategically, Premier Air Charter has undergone significant changes, including the acquisition of Premier Air Charter, Inc. in March 2025, which has been accounted for as a reverse recapitalization. This merger has expanded the company's operational capabilities and fleet size, contributing to the revenue growth reported. The company has also seen an increase in charter revenue from newly added aircraft, although this was partially offset by a reduction in maintenance revenue due to the transition from management contracts to aircraft leases.

Operationally, Premier Air Charter's customer engagement metrics have shown improvement, with an increase in charter sales contributing to the overall revenue growth. However, the company faces challenges, including a substantial increase in liabilities, which rose to $32.4 million as of June 30, 2025, compared to $29.3 million at the end of 2024. The company owes approximately $7.5 million to related parties, highlighting its reliance on external financial support.

Looking ahead, Premier Air Charter Holdings has expressed concerns regarding its ability to continue as a going concern, citing the need for additional funding to support operations and capital expenditures. The company plans to rely on related party financing and potential equity sales to meet its financial obligations. However, there is no assurance that it will secure the necessary funding, which could impact its operational viability in the future.